XML 90 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Effective Tax Rate
3 Months Ended
Mar. 31, 2014
Income Tax Disclosure [Abstract]  
EFFECTIVE TAX RATE AND UNRECOGNIZED TAX BENEFITS
EFFECTIVE TAX RATE
See Note 5 to the financial statements of each registrant in Item 8 of the Form 10-K for additional tax information.
Southern Company
Southern Company's effective tax rate is typically lower than the statutory rate due to its employee stock plans' dividend deduction and non-taxable AFUDC equity.
Southern Company's effective tax rate was 32.3% for the three months ended March 31, 2014 compared to 24.5% for the corresponding period in 2013. The increase was primarily due to higher net income, which was partially offset by an increase in non-taxable AFUDC equity, state income tax credits, and beneficial changes in certain state income tax laws.
Alabama Power
Alabama Power's effective tax rate was 39.3% for the three months ended March 31, 2014 compared to 39.2% for the corresponding period in 2013.
Georgia Power
Georgia Power's effective tax rate was 38.0% for the three months ended March 31, 2014 compared to 38.1% for the corresponding period in 2013.
Gulf Power
Gulf Power's effective tax rate was 37.4% for the three months ended March 31, 2014 compared to 37.6% for the corresponding period in 2013.
Mississippi Power
Mississippi Power's effective tax rate was (43.0)% for the three months ended March 31, 2014 compared to (40.8)% for the corresponding period in 2013. The decrease was primarily due to a reduced net loss for the current period compared to the corresponding period in 2013 and an increase in non-taxable AFUDC equity related to the construction of the Kemper IGCC.
Southern Power
Southern Power's effective tax rate was 8.5% for the three months ended March 31, 2014 compared to 33.5% for the corresponding period in 2013. The decrease was primarily due to an increase in state tax credits and beneficial changes in certain state income tax laws.